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Audit and accounting Indirect tax Tax advisory
Get ahead of the curve on GST/HST obligation issues
The CRA announced in the December issue of the “Businesses – Tax information newsletter” the kickoff of a new campaign to send GST/HST compliance letters to GST/HST registrants. Through this campaign, the CRA hopes to assist taxpayers in gaining a better understanding of their GST/HST compliance requirements. Accordingly, the targets of this campaign are expected to be individuals and small businesses.  
Feb 27, 2017
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To deduct or not to deduct; that is the question
Owning property for the purpose of earning rental income creates benefits and challenges. Property owners incur a variety of expenditures in order to earn rental income and maintain property value. Since not all expenditures are treated equally for tax purposes, it is important to be aware of the tax implications when incurring such expenditures in a rental property business.
Feb 24, 2017
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Audit and accounting
IFRS accounting standards to watch out for in an uncertain economy
During times of economic uncertainty, one might expect that an entity would have fewer accounting issues to consider because activity levels often decrease. However, the opposite is quite often the case. While not new, there are a number of IFRS accounting standards that often take on increased importance when times get tough. 
Feb 22, 2017
On The Mark-IFRS accounting standards to watch out for in an uncertain economy
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Strategies for Dealing with the New SBD Rules
Some taxpayers utilize corporate groups, which have been structured to multiply their access to the small business deduction (SBD). The SBD allows a company to pay a lower tax rate on the first $500,000 of income each year. Access to the SBD is sometimes limited as it must be shared by associated corporations and corporate partners. To avoid having to share the SBD, some businesses that naturally work in groups, have structured their affairs in a way that allows more than one $500,000 small business deduction. In reaction to this multiplication strategy, the government introduced legislation in the 2016 federal budget to end the effectiveness of such structures and, in effect, increase tax rates for companies in such groups.
Feb 16, 2017
Tax Series
Technical Bulletin: February 2017
This <em>Technical Bulletin</em><strong> </strong>covers the various developments from October 2016 to January 2017. Collins Barrow regularly publishes <em>Technical Bulletin</em> for the general interest of its clients and friends to highlight the continually changing accounting and assurance standards, and the interpretations thereof, in Canada.
Feb 15, 2017
Technical Bulletin-Collins Barrow
Methods of drawing funds from a corporation
Shareholders and family members of incorporated farming operations have a number of options for receiving compensation from their corporation. These options can range from compensation for services rendered, to a return of equity invested in the corporation or merely income derived from owning shares. 
Feb 14, 2017
Green farm land with varying grass lengths creating an interesting organic pattern.
Tax advisory
Taxable benefits and the GST/HST
It’s that time of year again – as an employer, what should you know about taxable benefits and the GST/HST? Did you know the GST/HST impacts not only the calculation of certain employee taxable benefits, but also the calculation of the employer’s net tax for GST/HST reporting purposes?
Feb 13, 2017
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International Tax advisory
Infographic: Haven’t fulfilled your U.S. tax obligations?
In recent months, there have been rumblings that the streamlined program — a “friendly” system that helps U.S. taxpayers living abroad get caught up on their filing obligations — is coming to an end. If you are an American citizen or Green Card holder who hasn’t been filing American taxes, now is the ideal time to get caught up, as you may be running out of time to avoid harsh penalties.
Mike Hayward Todd King Feb 8, 2017
Publications-Infographic: Haven’t fulfilled your U.S. tax obligations?
Tailor-made connections: matching financing needs to providers
For many entrepreneurs, the need to find financing can be like trying to sprint while dragging a weight along the ground. The time and effort spent researching financial sources, preparing pitches, and telling their story holds them back from focusing on the business and making their vision a reality.
Feb 1, 2017
On The Mark-Tailor-made connections: matching financing needs to providers
The changing face of workplace harassment
In 2010, the Occupational Health and Safety Act (Ontario) was amended to include the definitions of workplace harassment and workplace violence, as well as associated requirements for employers. Prior to that, harassment fell under the Ontario Human Rights Code (OHRC) and was limited to the prohibited grounds as defined by the OHRC. However, since 2010, employees have had another avenue to bring forward concerns about workplace harassment and violence: the OH&S Act. 
Jan 19, 2017
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Transaction services Tax advisory Succession and estate planning
Tax...shelter: the principal residence exemption
<strong><em>*Updated Jan. 18 2017</em></strong><br /> <br /> With the real estate market booming (or contracting, as the case may be) in your home town, you have decided to cash in on the one income tax break that has remained relatively unchanged for individuals since its inception in 1972: the principal residence exemption (PRE). The concept seems simple enough. Generally, any gain on the sale of a home that has been ordinarily inhabited as a place of residence by you, your spouse, your common-law partner or your child will be exempt from income tax. However, the details of the rules do not reflect this simplicity.
Brian Mitchell Jan 18, 2017
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